* NY - Light truck sales to Top 10 Million in 2016
--- Sales of light trucks in October accounted for 63% of all vehicle sales in the United States for the month... Car sales fell nearly 10% year over year in October, while light truck sales rose 7.1% in the month. At the current sales rate, light truck sales are expected to hit about 10.6 million in 2016, the highest total ever... This is particularly good news for the Detroit Three: Ford Motor Co., General Motors Co., and Fiat Chrysler Automobiles N.V.- Light trucks are not only the best-selling vehicles for these three carmakers, the vehicles are also the most profitable... Where consumers might think full-size and compact pickup trucks are the sole inhabitants of the light truck category, the industry tosses in any vehicle that carries a gross vehicle weight rating of up to 10,000 pounds... At least some industry players see more of the same in 2017. AutoNation Inc.’s Mike Jackson said as much on the company’s third-quarter conference call: "I think [2017] looks a lot like ’16 with more movement towards trucks. The only restriction has been installed productive capacity. … And that is certainly good for the industry overall to have. It’s more profitable for the manufacturers on the truck side than on the car side" ...
New York, NY, USA - 247 Wall Street, by Paul Ausic - November 7, 2016Labels: truck sales USA, truckmakers news USA, trucks markets
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